Gautam adani group to launch open offer for NDTV on 22 Nov detail is here – Business News India

read on appGautam Adani Group has set a new deadline for open offer to buy 26 per cent stake in media house NDTV. According to the information given to the stock exchange of the

Adani Group, the open offer is proposed to open for subscription on November 22 and will close on December 5. Earlier it was proposed to continue the open offer from October 17 to

November 1. During this time the Adani Group could not complete the process of open offer. What is meant by open offer? Actually, it is considered a transparent and legitimate way

of acquiring a company. Under this, the acquiring company includes in its deal the shareholders of the firm which is to be bought. An open offer is an offer to sell shares at a

specified price to the specified shareholders of the selling company. Through this, the acquiring company wants to increase its dominance. In the case of NDTV, the Adani group also

wants to keep its stake above 50 per cent. This is the reason why the open offer route has been chosen. 29.18 percent direct stake: let you know The country's richest billionaire

Gautam Adani's group acquired Vishwapradhan Commercial Private Limited (VCPL) in August. VCPL had extended a loan of over Rs 400 crore against warrants to the founders of NDTV more

than a decade ago. NDTV's founders allowed the company to acquire 29.18 per cent stake in the media conglomerate in case of non-payment of debt. VCPL has proposed to acquire an

additional 26 per cent or 1.67 crore equity shares with AMG Media Networks and Adani Enterprises Ltd at an offer price of Rs 294 per share. The promoters of NDTV had opposed the

open offer and acquisition of VCPL stake. The argument was that the deal cannot proceed without the approval of SEBI and the Income Tax Department. Read this-LIC profit of ₹

15952 crore, IPO investors still have losses At the same time, the Adani Group had rejected the claims that the stake sale would require approval from the tax

authorities. The promoters of NDTV had claimed that they were completely unaware of the acquisition and it was done without their consent.